On December 31, 20X4, Puzzle Corporation acquired 90 percent of Sunday Inc's common stock for $864,000. At that date, the fair value of the noncontrolling interest was $96,000. Of the $240,000 differential, $5,000 related to the increased value of Sunday's inventory, $75,000 related to the increased value of its land, $60,000 related to the increased value of its equipment, and $50,000 was associated with a change in the value of its notes payable due to increasing interest rates. Sunday's equipment had a remaining life of 15 years from the date of combination Sunday sold all inventory it held at the end of 2074 during 20x5 the land to which the differential related also was sold during the year for a large gain. The amortization of the differential relating to Sunday's notes payable was $7,500 for 20x5. At the date of combination, Puzzle reported retained earnings of $120,000, common stock outstanding of $500,000, and premium on common stock of $100,000. For the year 20x5, it reported net income of $150,000 but paid no dividends. Puzzle accounts for its investment in Sunday using the equity method. Required: a. Present all entries that Puzzle would have recorded during 20x5 with respect to its investment in Sunday. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list x Record the initial investment in Sunday Inc. Record Puzzle Corp.'s 90% share of Sunday Inc.'s 20x5 income. Record the amortization of the excess acquisition price. Present all consolidation entries that would have been included in the worksheet to prepare a full set of consolidated financial atements for the year 20X5. (If no entry is required for a transaction/event, select "No journal entry required" in the first account eld.) view transaction list X Record the basic consolidation entry. Record the amortized excess value reclassification entry. Record the excess value (differential) reclassification entry